Spain: Pig Fat Market 2024

Pig Fat Market Size in Spain

The Spanish pig fat market surged to $X in 2022, with an increase of 23% against the previous year. In general, consumption continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Pig Fat Production in Spain

In value terms, pig fat production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 29%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Pig Fat Exports

Exports from Spain

In 2022, overseas shipments of pig fat decreased by -20.9% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, showed a moderate increase. The pace of growth was the most pronounced in 2019 with an increase of 42% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, pig fat exports shrank rapidly to $X in 2022. In general, exports, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2019 with an increase of 112% against the previous year. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

The Philippines (X tons) was the main destination for pig fat exports from Spain, with a 25% share of total exports. Moreover, pig fat exports to the Philippines exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+21.3% per year) and France (+0.1% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for pig fat exports from Spain, comprising 24% of total exports. The second position in the ranking was taken by China ($X), with a 5.7% share of total exports. It was followed by Germany, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines amounted to +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+10.4% per year) and Germany (-1.4% per year).

Export Prices by Country

The average pig fat export price stood at $X per ton in 2022, shrinking by -7.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Fat Imports

Imports into Spain

Pig fat imports into Spain shrank rapidly to X tons in 2022, with a decrease of -52.4% against 2021 figures. In general, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 with an increase of 192%. As a result, imports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, pig fat imports reduced rapidly to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 104%. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest pig fat supplier to Spain, accounting for a 49% share of total imports. Moreover, pig fat imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was held by France (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+26.6% per year) and France (-3.5% per year).

In value terms, Germany ($X) constituted the largest supplier of pig fat to Spain, comprising 43% of total imports. The second position in the ranking was taken by France ($X), with a 16% share of total imports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.8% per year) and Poland (+29.9% per year).

Import Prices by Country

In 2022, the average pig fat import price amounted to $X per ton, with an increase of 30% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 100% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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